To the relief of many college students who graduated in May of 2012, the jobs outlook is brighter than it’s been in the last few years. On-campus recruiting was up by 10 percent this year and the mood at career fairs was decidedly more upbeat.
That doesn’t mean that the typical grad’s job search is going to be a bed of roses. According to The Wall Street Journal, most of this year’s graduates have left school without a job offer in hand.
Here are a few stats about the mixed employment market these new job seekers have entered:
- It’s taking longer to find a full-time job. Only 49 percent of graduates from the classes of 2009 to 2011 had found a full-time job within a year of finishing school, compared with 73 percent of students who graduated in the three years prior.
- Unemployment for this demographic is slightly lower than the national average. According to the Labor Department, the unemployment rate among 20- to 24-year-olds with bachelor’s degrees was 6.4 percent in April, compared with 8.1 percent for the overall population.
- Our job market is far from “booming.” In May, our nation added just 69,000 jobs – the fewest in a year. July’s employment numbers weren’t much better (we added 163,000 jobs), and our unemployment rate remains stubbornly above 8 percent. Disappointing numbers like this show just how fragile our recovery is.
- Despite persistently high unemployment, more Americans are voluntarily quitting their jobs. These vacancies create openings for which new graduates can apply. On the whole, this “churn” is a sign of slowly improving economic confidence – and it’s great news for first-time job seekers.
- Even when new grads do find jobs, starting salaries tend to be lower than a decade ago, after adjusting for inflation. According to the Economic Policy Institute, hourly wages for college-educated men age 23 – 29 fell 7.6 percent from 2000, while the corresponding figure for women fell 6 percent.
Simply put, it’s tough out there – especially for the recent grad who’s considering tackling his job search alone.
Thankfully there’s a smarter way. A.R. Mazzotta can make finding that first job out of college easier, quicker and less stressful. Our recruiters work with the area’s best employers, allowing you to tap into Connecticut’s hidden job market! We can also provide useful feedback on your résumé and interviewing skills. Our ultimate goal is to match you with the ideal first career opportunity or a promising temporary assignment that could lead to direct employment.